Ms V-G was replying to a post from Anaconda who indeed doesn't know what he is talking about but does talking. Thailand and in particular Bkk have huge potential for ventures like you are planning. The company I was refering to earlier and did visit their offices are raising capital via advertising in magazines, the internet and cold calling schemes (cold calling is just my assumption as I have no proof). The guy at the top is basically doing the education for freshly recruited traders and he is specialized in crude oil trading. He keeps the best of them and gives them a small client account after the training period has ended. When I went there I knew to get dragged into a sales conversation as when I had set up contact I claimed to be interested in an investment as well as maybe some active participation as a trader. After a few minutes he had figured out that there is nothing he could offer me to buy and we sat there both without knowing what to further say. I asked him if he would trade a bit and I could see over his shoulder. He did and I had time to figure out if he is just a talker or knows his job well. They work with MT4, pay 5 ticks spread each side + pay an additional rt fee of 20 US$ for one lot which makes it a very hard game to trade profitable. Imagine you need 12 ticks just to break even. I told him that I pay a fraction of that when trading crude where he replied to knowing it but he has no choice as to stay on the legal side he had to get into a contract with an Australian broker who is the only one licensed in Thailand (I dont know if this is true).
there must be some misunderstanding here . . . i'm a friend. i like you and your plan. i'm on your side. i was responding to someone else, who doesn't like your plan. re-read the thread. i think your plan is good Varima Garch
You might want to the check some other threads started by Ms V-G, whom you rush to defend. In case you are too dense, she/he is a total troll, so the joke is on you. You are a moron, the OP wants to FUND an prop operation, as there are not that many people out in Thailand who would be willing to put down $2000-$5000. He wants to pay them a tiny salary by US comparison and then hope to create some profitable traders. If there is no edge you can teach, there is no point in starting this. Not worth it. But hey, since you think you know so well, why don't you help the OP fund it. It's such an obvious moneymaker, you should be a millionaire in no time.
LOL, you trying to skim out a salary to teach newbies about something you have no clue about? Why don't you learn how to make a profit first, instead of consistent losses.
i've already explained to the op, in sufficient detail, how to fund this. i don't have any more time for this as for you "anaconda", you are trying to sound like jim rogers . . . nice try, clown you don't have what he has: education, knowledge and talent, let alone the money reading two wiki articles won't make you an expert in global affairs, no matter how hard you try goodbye forever Varima Garch
LOL, ok troll. I have no experience in this. Outside of helping a certain sub-LLC expand their global market by making an introduction to someone who has already successfully set up offices out in Ukraine. Let's see, do you have the slightest clue on how to even make a pro-forma of a venture of such sort? How much is the office space? How much to get a dedicated T1 or T3? How to deal with the local government? Bottom line, if there is no market edge, it's unlikely to generate any real income. At best, you can run a break-even operation and entice individuals who have capital to put down to join your firm while you charge premium commissions. The reason this worked very very well for some guys who went out & set up shops in certain ex-USSR republics is because they were able to teach a basic scalping edge regarding NYSE Open Book & NYSE specialist. It was a small edge which meant little in the US as solely relying on it would not generate significant income. But out there, it was big money, allowing for big profit splits. Those who know the business, laugh at your posts.
Why should I go and read other threads from posters who I don't know? You don't know the situation in Thailand and therewith are not qualified to judge the market over there. If you think there are no people with money you are plain wrong. Focussing on students is probably not a good idea as well in my eyes. Regarding his business modell I don't know enough details hence I agree with you in one thing if he cannot trade profitable and bring no snacks to the table it will be all empty miles and mainly headache. Almost forgot you called me a moron you little wimp and I assume that's what you are when all you are keen of is to insult
This is not a complicated concept. I understand that he wrote a big post & it might be hard to pick out for certain not too smart individuals, but he wants to FUND a trading group. He thinks that simple money management will spell success for him. It's not about whether there are people in Thailand who can come up with $5k to gamble. We all know there are. And some NYC & Canadian prop firms already have outlets there catering to these individuals. The question becomes, why do it there when more people can come up with $5k here? You don't see students in Thailand ready with $5k to put down and give a shot at a "prop" firm. You see that here. If you think that a prop model with risk deposit will be such a huge success, go approach any major NYC prop firm and start it up. They are ready to go & provide you access to a trading platform & clearing firm. You just need to fun & handle the logistics on-site. But what they won't do is back these traders no matter the amazing profits potential from premium commissions and splits highly in favor of the prop firm. Because 60-70% of zero is still zero. The reason this concept ever made sense is because there were small edges in US equity trading which could be taught to newbies and have a good portion of them generate a few k in net profit after 5-6 months. The problem is that a guy making a few grand a month won't stick around long, cost of living is too high in USA. Meanwhile in certain ex-USSR republics, guys could be making 3 grand a month, giving up over 2 grand in split to the firm and still be ecstatic cause they were making great money in $250/month salary + performance bonus. The primary factor in that model is a simple edge that can be taught to newbies. And the OP does not have one, nor does he realize he needs one.
You are very knowledgeable and I welcome rational constructive criticism like yours. Do you believe the following if taught to newbies could be considered an edge? Teaching very strict money management. I personally think money management is 90% of the game. The rest is fluff. I also do agree that unless I think about my training a little more in depth I will burn thru cash. For the record I am not trying to get investors. I am looking for constructive criticism like yours to give my plan a better chance of surviving the first year. Thank you, Sean